MiniMax is growing fast, but the numbers tell a more interesting story than just “AI growth.” H1 revenue reached $116.6M (+283.1% YoY), with Enterprise + Open Platform revenue up 703.1% and now contributing 63.4% of revenue. At the same time, adjusted net loss hit $293M and R&D reached $296.9M. So the real question for me is: how much future growth can that spending buy? MINIMAX-USDT perpetuals are available on BingX for traders watching the market reaction.